Tuesday, Jul 24, 2007
London not harmed by buy-to-let
Property Investing: London not harmed by buy-to-let
London is different from the rest of the country. More bull news from a site that I haven't seen mentioned here before?...
Posted by maddison @ 10:11 AM (182 views) Add Comment
10 Comments
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1. Papabear said...
The 'article' is from our old friends Assetz. It's about as VI as VI can get. Reading anything form them can seriously rot your brain. Avoid like the plague.
2. Ds said...
What more flannel?, This will affect the whole market as liquidity dries up. All this shows is there is more liquidity in the South (No suprise there then!).
One thing I have learnt from studying this topic is that the 'stories' in the rags seem to be carefully placed by vested interests
3. confused76 said...
Good posting, Maddison
New sites prop up every day to advertise rental agents and mortgage provider. Clear sign that the train has left the station for property investors. I remember in London in 2002 / 03 (when real money investing in property was made) developers were securing cheap deals, like derelict flats, or short-lease properties, or buying 3 flats and restoring a house in Notting Hill.
All these opportunities were sourced by giving money to agents under the table, or by exploiting that the sellers did not know the market was rising so fast and by so much.
Now they advertise properties for the odd stupid investor from France, Italy and Russia, and MEast. Or for the American banker awash with money. So companies like Assetz can live a little bit longer.
Any news about InsideTrack... I heard they were advertising like mad on the radio
There is a lot of dumb money around, look at what happened to SportsDirect... 16% down yesterday!
4. maddison said...
This property investing site has been around for a couple of years and I look at it as well as this one to try and get both bull and bear perspective.
I am a bit of a bear when it comes to flats in not so desirable parts of London as I am seeing lots of them being built and not many being sold. What is more there are other things on the horizon for flats that are not good. For instance on properties converted in the 80's alot of their leases are getting short. Discounting by developers will have to start soon as well. However, I am a bull for the desirable parts of London because of the volume of money.
5. planning4acrash said...
What does VI mean?!
6. doomwatch said...
This seems to conflict with my view on the ground which sees a lot of BTLs been flogged off around Clapham.
7. Papabear said...
planning4acrash, VI is short for Vested Interest. Many articles that are posted here and indeed the media in general contain content (usually in the form of opinion) from people who have a vested interest in seeing property prices rise (estate agents, property 'consultants', mortgage brokers, banks, etc.). Such articles should be taken with a pinch of salt.
8. confused76 said...
Maddison,
"I am bull about desirable London... I am bear somewhere else..."?
I respect your views but let me disagree.
London is a bubble... I do not mean the housing market I mean LONDON.
Want to know how people from Kazakstan and All-the-stans pay for their Chelsea homes?... maybe cash?... noooo... and everybody who knows somebody does know about this scam!!.... get mortgages as less than 1%, massage included:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/14/cmforex14.xml
Interested? Even I can afford a £4m house at that rate!
It is a big bubble and there is no area of London that will be spared. Sorry.
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